Olstein Capital Management L.P. Reduces Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Olstein Capital Management L.P. lowered its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 29.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 211,500 shares of the bank’s stock after selling 88,500 shares during the quarter. Citizens Financial Group accounts for 1.5% of Olstein Capital Management L.P.’s portfolio, making the stock its 20th largest position. Olstein Capital Management L.P.’s holdings in Citizens Financial Group were worth $8,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CFG. Capital International Investors increased its holdings in Citizens Financial Group by 4.4% in the 1st quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock valued at $1,332,185,000 after acquiring an additional 1,552,333 shares during the last quarter. LSV Asset Management increased its holdings in Citizens Financial Group by 1.8% in the 2nd quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock valued at $237,106,000 after acquiring an additional 113,300 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Citizens Financial Group by 15.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock valued at $159,550,000 after acquiring an additional 587,115 shares during the last quarter. AQR Capital Management LLC increased its holdings in Citizens Financial Group by 61.4% in the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock valued at $155,909,000 after acquiring an additional 1,682,886 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Citizens Financial Group by 1.7% in the 2nd quarter. Hsbc Holdings PLC now owns 2,764,090 shares of the bank’s stock valued at $99,448,000 after acquiring an additional 45,038 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 2.7 %

Shares of NYSE:CFG traded down $1.29 during trading hours on Thursday, hitting $47.02. The company’s stock had a trading volume of 411,351 shares, compared to its average volume of 5,321,009. Citizens Financial Group, Inc. has a 52 week low of $24.61 and a 52 week high of $48.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 1.59 and a beta of 1.07. The firm’s fifty day moving average price is $41.61 and its 200 day moving average price is $38.86.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. Citizens Financial Group’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 EPS. As a group, research analysts expect that Citizens Financial Group, Inc. will post 3.19 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.57%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 66.14%.

Analyst Ratings Changes

A number of brokerages have issued reports on CFG. Barclays lifted their price target on shares of Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler lifted their price target on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. DA Davidson lifted their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Evercore ISI dropped their price objective on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a research note on Wednesday, October 2nd. Finally, UBS Group lifted their price objective on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.80.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.